Prime Infra plans Philippine solar-storage project with up to 3.5GW of PV

Facebook
Twitter
LinkedIn
Reddit
Email
An 850MW offtake agreement has been secured with utility MERALCO. Image: MERALCO.

An infrastructure company owned by billionaire Enrique Razon is planning to build a solar-plus-storage plant in the Philippines that will feature 2.5 – 3.5GW of PV.

Prime Infrastructure Holdings (Prime Infra) said the installation will be combined with 4 – 4.5GWh of battery storage, describing the proposed project as “a model of dependable renewable energy”.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The installation will be undertaken by Terra Solar Philippines, a unit of Prime Infra’s subsidiary Terra Renewables Holdings, in partnership with Solar Philippines Power Project Holdings.

Following a bidding process, an 850MW offtake agreement has been secured for the plant with utility Manila Electric Company (MERALCO), with 600MW of capacity set to be available by 2026 and an additional 250MW by 2027.

The location and cost of the project were not disclosed by Prime Infra.

The company’s CEO, Guillaume Lucci, said the project “highlights solar power’s important contribution” to strengthening the Philippines’ energy security.

New government targets are expected to see renewables account for 35% of the Philippines’ power mix by 2030 and 50% by 2040.

Amid rising investor interest and an expanding project pipeline, Fitch Solutions made a significant upward revision to its non-hydro renewables forecasts for the Philippines earlier this year.

The consultancy expects the country’s non-hydro renewables capacity to reach 10.2GW by 2031, up from an estimated 4GW as of the end of 2021, driven largely by new solar and wind. As of March, the Philippines had around 13GW of solar in its pipeline, compared with approximately 1.3GW a year earlier.

Solar Philippines Nueva Ecija Corporation (SPNEC), a subsidiary of PV project developer Solar Philippines, earlier this year announced plans to raise capital from a stock rights offering and private placements to support the development of 10GW of solar.

Read Next

June 20, 2024
European Energy is seeking Queensland government approval to pursue a 1.3GWp (1.1GWac) solar PV project in Australia.
June 19, 2024
Inverter supplier SMA Solar Technology has presented its new Sunny Central FLEX platform solution for solar PV, battery energy storage and hydrogen electrolysers.
June 18, 2024
Pacific Partnerships has gained development rights for one of Australia’s largest solar PV projects, with 700MW of generation capacity.
June 14, 2024
Spanish PV developer Solarpack has signed a power purchase agreement (PPA) with Indian state-owned utility SJVN for a 482MW hybrid solar-wind park.
June 14, 2024
Ørsted has commissioned its Helena Energy Center in the US state of Texas, a 518MW co-located solar and wind project.
June 14, 2024
Edify Energy has proposed a 200MW solar PV farm near the newly rebuilt Callide coal-fired power station in Central Queensland, Australia.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia